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News
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Financial News
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Investors in real estate investment trusts had few opportunities to buy into initial public offerings in 2011 " only five equity REITs successfully completed IPOs to raise about $1.8 billion. There were nine in 2010, and they raised $2 billion .But any investors who plunked down cash hoping for a quick gain last year may wish they hadn't. Share prices of the newly trading equity REITs fell an average of 12.2% from their offering price between their IPO date and the end of 2011, data from SNL Financial show.Equity REITs own or invest in property. As a group they reported a 4.3% average share price gain in 2011, according to the National Association of Real Estate Investment Trusts. The Nasdaq composite index, meanwhile, lost 2%.How Will New IPOs Do?Transaction tracker Dealogic reports that only four REITs have registered to go public in the last 180 days. [Read the full article]
Last year, we toured Jive Software's Palo Alto headquarters and were introduced to the bottle of 1952 Macallan scotch they kept behind glass for a "material public event" -- an IPO or sale.Today, Jive had its first board meeting since the company's successful IPO in December, and Business Insider got an exclusive invitation to watch as boardmember Bill Lanfri broke the bottle out for the executive team and the board -- including Google Chrome leader Sundar Pichai, former Facebook exec Jonathan Heiliger, and former McAfee CEO Dave DeWalt.The rest of the company joined in with 21-year-old scotch and champagne, taking a break from the business of building and selling software that lets big companies communicate and share information internally and with customers -- a mission that they often liken to building a Facebook for the enterprise. [Read the full article]
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